As president of the Actuaries Institute, Naomi Edwards is worried about Australia’s numeracy.

Declining numbers of maths graduates and competition from other fields will potentially make it more difficult to attract young actuaries, data scientists and business analysts into the insurance profession.

“Traditionally, the insurance industry was able to recruit a very large percentage of maths graduates from universities,” says Edwards, who also sits on the board of TAL, Australia’s largest life insurer.

“We now have fewer maths graduates choosing data science occupations in a growing number of other industries.”

Hong Kong-based Jeffrey Chan, a non-executive director at the Actuaries Institute, is also concerned about future generations of actuaries in the APAC region. “Numeracy is a fundamental skill required in the actuarial field, as it involves complex calculations, statistical analysis and risk assessment,” he says.

Premium

You need to login to access this

Login

What are CIP Points? About ANZIIF Membership